The key performance indicators as a tool of management improvement

The article is concerned with implementation of key performance indicators, which is one of the most effective tools of strategic management and quality management, allowing the company to meet the modern trends of economic development and to ensure its competitiveness. The key performance indicators should be developed for the employees' performance assessment as well. Assessing an employee according to certain quantitative indicators, it is possible to determine the strengths and (or) weaknesses (abilities) of the employee. Development of a remuneration system based on the key performance indicators can motivate employees, promotes achieving of the best results, and helps to accomplish strategic objectives of the company.